The 50-year-old Instagram celebrity Gianluca Vacchi, who got rich through inheritance, is having to see his yacht and some of his villas seized by the bank over a €10 Million debt! The millionaire got famous for flaunting his hedonistic lifestyle on Instagram and posting borderline inappropriate videos of him dancing in swimwear.

Pictures of his daily activities in a lavish lifestyle got around quick on social media, where some call him “Ye Olde Dan Bilzerian” (Dan Bilzerian was also called the king of Instagram) got him a lot of attention and over 11 million followers on Instagram.

His profile and lifestyle have been parodied by internet comedians and ‘haters’ following multiple reports about his assets at the Casalunga Golf Club getting seized by creditors, along with a yacht and some properties.

The parodies include people posting pictures of paddling pools and pedalos, as well as a Facebook page called ‘Find Gianluca Vacchi a job’. There’s even a crowdfunding campaign – an appeal for funds to pay off his debt – and it’s attracted pledges of just €5 as of Friday, according to thelocal.

The famous (or infamous) heir to the IMA group has brushed off allegations that he is in any financial trouble, claiming it’s just ‘a little debt’ when talking about the financial shenanigans that the media are writing about.

The 50-year old has retired after 20 years of working at the family business and now dedicates all his time to parties, yachts, DJing, workout, traveling on private jets as well as hanging out with beautiful women and celebrities. Oh yeah, and tattoos – an acre of them!

Vacchi has even made his own brand of clothing and accessories, and written a book called ‘Enjoy’, in which he writes about his decision to retire after 20 years of working at the family business, to focus on himself.

The company to which he’s the heir (IMA group) reportedly pays him around about €5m a year. IMA specialises in industrial packaging and pharmacy and is run by his cousins.